GBP/JPY Consolidates Near Two-Month High as Intervention Risks Loom

The GBP/JPY cross has been consolidating its recent gains, oscillating in a range during early European trading after reaching a two-month high. The pair's strength is supported by a persistently bearish Japanese yen, but intervention risks from Japanese authorities are capping further upside.

Traders remain cautious as potential intervention could trigger a sharp reversal. The consolidation reflects market uncertainty over the next direction.